888 appoints Per Widerström as CEO from October 16th, Lord Mendelsohn to step down as executive chair

British bookmaker 888 Holdings has appointed Per Widerström as its new CEO. Widerström has over 17 years of experience in the online gaming industry and is the former CEO of Europe-focused Fortuna Entertainment Group, 888 Holdings said in a statement. His appointment as CEO is effective from October 16.

The development comes two weeks after the company terminated talks on management changes proposed by shareholder FS Gaming, which prompted a Gambling Commission review of 888’s license to operate in the UK. 

FS Gaming, a group of investors with a 6.6% stake in 888, had proposed candidates to be appointed in top roles including the company's chair, CEO, and finance chief. While 888 quickly moved to end talks with the group and said it would cooperate with the UKGC, the review could potentially force 888 out of its biggest market.

Earlier in January, former 888 Holdings CEO Itai Pazner stepped down as the CEO after leading the company for around four years. During Pazner's tenure, the company acquired William Hill's international assets from US-based owner Caesars Entertainment in 2021.

Previously Widerström served as the CEO of Fortuna Entertainment Group, from 2014 to 2022. Prior to that, he held a succession of senior roles across online gaming businesses from 2006 onwards. The company notes that once Widerström joins the group, Lord Mendelsohn will return to the role of non-executive Chair "whilst ensuring a smooth transition of responsibilities."

Lord Mendelsohn, Executive Chair of 888, commented: “We are delighted to be able to appoint Per following what has been an extensive and comprehensive search process. The Board unanimously agreed that Per was the clear standout candidate to lead the Group to build on the strong platform for growth and value creation that has been established.”

Lord Mendelsohn

"He has a strong and proven track record of driving growth and delivering transformation programs at multiple leading online gaming businesses, and the Board is very pleased to appoint someone with the skillset to deliver our objective to become a much stronger international multi-brand operator, leveraging our technology and data capabilities to drive an acceleration in growth."

Per Widerström, incoming CEO of 888, commented: “I am delighted and honored to become the group’s new CEO. Following 888’s combination with William Hill, the group has a world-class portfolio of betting and gaming brands, an outstanding technology platform, and an exceptional team. Together these attributes mean it is exceptionally well positioned to become a clear global industry leader.”

He added: “It is incredibly exciting to be joining at such a key moment in the group’s long-term development. 888 has a clear and attractive opportunity ahead of it and I am very much looking forward to getting started and working with the rest of the team to build on the strong progress already made and achieve the group’s full and very exciting potential.”